By CCN: Ahead of its historic IPO, Uber fixed the price at $45 as it faces increased concerns that investors will steer clear of it.
When it filed its IPO papers last month, it set the price between $44 and $50 per share.
Skeptics were waving warning flags about the IPO, telling investors to steer clear of it. However, Uber execs found time to squabble over who should be on the New York Stock Exchange balcony to ring the opening bell Friday.
That seems odd, if not crazy, but considering it’s Uber, it’s nearly expected.
Let Me On That Balcony!
NYSE tradition calls for the execs of the company going public to ring the opening bell on the first day of trading. Ousted CEO Travis Kalanick approached his replacement Dara Khosrowshah about joining the team, and was reportedly denied.
He’ll sit courtside along with his father and fellow co-founders Ryan Graves and Garrett Camp. Kalanick is a member of Uber’s board.
Some took the squabble as an opportunity to poke fun at Kalanick.
We look forward to watching Travis Kalanick rushing the balcony to join in on the bell ringing ceremony and screaming “Buy, you fucks, BUY IT ALL!” at the top of his lungs towards the trading floor below.$UBERhttps://t.co/kiANYssaRU
— Thornton McEnery (@ThorntonMcEnery) May 9, 2019
Without Kalanick and his co-founders coming up with the Uber idea, there would be no bell ringing. On that same note, had it not been for some very fool moves he made while at the helm, he’d be on the balcony as CEO.
He was forced to resign in 2017 amid allegations that Uber’s workplace was fraught with problems that promoted a culture where sexual harassment and gender discrimination went unaddressed.
Kalanick still owns 8% of Uber, according to Fox Business. After the IPO, he stands to make billions of dollars.
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